Stan Nakano is the Utah District Director for the U.S. Small Business Administration. The Utah District works closely with our lending partners including banks, certified development companies, and credit unions, each one helping SBA meet the credit needs of small businesses here in Utah. In fiscal year 2011, the SBA guaranteed 1,561 small business loans for over $435 million, an all-time dollar record for Utah. The total outstanding loan portfolio is in excess of ten thousand loans for over $1.5 billion.
The Utah District provides funding support to eleven Small Business Development Centers, five SCORE chapters, and a Women’s Business Center co-located at the Salt Lake Chamber of Commerce. These organizations provide outstanding counseling and training for new and existing entrepreneurs.
Additionally, the Utah District plays a significant role by helping small businesses obtain contracts through the federal procurement system. Under SBA’s 8(a) program, Utah small businesses were approved for federal contracts totaling $214 million in fiscal year 2011 and another $160 million through SBA’s HUBZONE program.
Nakano is most proud of the great number of businesses the SBA has been able to assist including underserved businesses owned by women and minorities as well as veteran owned businesses and international trade clients exporting goods and services around the world.
We highly encourage and recommend Utah small businesses take full advantage of the programs and services offered by the SBA in Utah.